This office lease form is a guranty that absolutely, unconditionally and irrevocably guarantees the landlord the full and prompt performance and observance of all of the tenant's obligations under the lease, including, and without limitation, the full and prompt payment of all rent and additional rent payable by the tenant under the lease and tenant's indemnity obligations benefiting the landlord under the lease.
Hawaii Joint and Several Guaranty of Performance and Obligations is a legal concept that combines the principles of joint liability and several liabilities in regard to guaranteeing performance and obligations. It is important for businesses and individuals to understand this concept in order to protect their interests and ensure financial security. In Hawaii, a joint and several guaranty means that multiple guarantors can be held collectively and individually responsible for fulfilling the terms of an agreement or contract. This means that if one guarantor fails to fulfill their obligations, the other guarantors can be held accountable for the entire debt or performance. The purpose of the joint and several guaranties is to provide an additional layer of assurance to the creditor or the party receiving the guarantee. This concept is particularly common in commercial and business transactions where multiple parties may be involved, such as partnerships, joint ventures, or corporations. In such cases, the joint and several guaranties ensures that there are multiple sources of financial responsibility, mitigating the risk for the creditor. It's worth mentioning that Hawaii recognizes two types of joint and several guaranties: joint and several liabilities and joint and several guarantee of payment. 1. Joint and Several liabilities: This type of guaranty holds each guarantor individually responsible for the entire debt or performance, regardless of the other guarantors' ability to pay or perform. In case of default by one guarantor, the creditor has the option to seek payment or performance from any or all of the guarantors. The creditor is not required to pursue the other guarantors before seeking payment from a specific guarantor. 2. Joint and Several Guarantee of Payment: This type of guaranty also holds each guarantor fully responsible for the entire debt or performance, similar to joint and several liabilities. However, in this case, the creditor must first exhaust all remedies against one guarantor before pursuing the other guarantors. This ensures that the creditor gives each guarantor a fair opportunity to fulfill their obligations before resorting to the remaining guarantors. Understanding the distinction between these two types of joint and several guaranties is crucial, as it affects the rights and obligations of the parties involved. It is advisable for businesses and individuals to consult with legal professionals familiar with Hawaii laws to determine the specific type of guaranty that best suits their needs and to ensure compliance with local regulations. In summary, Hawaii Joint and Several Guaranty of Performance and Obligations is a legal concept that holds multiple guarantors responsible, both individually and collectively, for fulfilling the terms of an agreement or contract. Joint and several liabilities and joint and several guarantee of payment are the two main types of this concept recognized in Hawaii.Hawaii Joint and Several Guaranty of Performance and Obligations
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The defendant can raise several defenses to joint and several liability, which include comparative negligence, contributory negligence, assumption of risk, necessity, self-defense, and bars to statute of limitations.
Exceptions: each defendant is responsible for the fault of another person if the two were acting in concert to commit an intentional tort, if the other person was acting as agent or servant of the party, or the party's liability for the fault of another person arises out of a duty created by the federal employers' ...
Opponents of the principle of joint and several liability argue that its use is unfair to many defendants. Joint and several liability will lead to cases in which a party who has a very small share of the responsibility for a plaintiff's injury may unfairly shoulder the burden of paying all of the damages.
Conflicts With Comparative Negligence Some states adopted comparative negligence and elected to retain joint and several liability. 7 This created a new set of problems as the two doctrines enmeshed. As a result, some of these states began to modify or abrogate the doctrine of joint and several liability.
Alternatives to Joint and Several Liability Pure several liability is another approach states take. Under this legal rule, each tortfeasor is responsible for paying the plaintiff compensation for the portion of damages they were responsible for.
If the defendant is less than 25% negligent, the defendant will only be severally liable, responsible only for his or her share of the damage. Tortfeasors who are only minimally negligent, are the only ones who have limited liability in Hawaii. Hawaii's joint and several liability is governed by statute Haw.
Joint liability is different from joint and several liability in that in joint liability the responsibility is spread equally among the defendants whereas in joint and several liability responsibility shifts depending on the degree/share of defendant's responsibility that is found by a judge or a jury.
Difference Between ?Joint? and ?Several? in a Guarantee The words "jointly" and "severally" refer to the nature of the guarantors' liability under the guarantee. 4 A several guarantee means that the signatories, separately or individually, have promised to guarantee the repayment of the borrower's debts.
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(a) Subject to Section 2.1(d) below, the Guarantors, jointly and severally, unconditionally and irrevocably guarantee the full and prompt (i) payment in full ... The term "joint and several" means that each party is responsible for full performance of all of the promises and agreements, and not for just a part or share ...Oct 25, 2021 — 690, 693 (1901) (holding a guarantor and principal debtor were not "joint and several obligors. They were severally parties to different. Jan 4, 2013 — Hawaii's modified joint and several liability means that economic loss in personal injury cases will generally hold defendants jointly and ... Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender the full and prompt payment and performance when due, whether at maturity or ... ... the City from such breach. b. This is a joint and several guarantee of payment and not of collection. The Guarantors waive any right to require that any ... ... Guarantor in this Guaranty) and any Other Guarantor will be joint and several. ... performance of such obligations and then only to the extent of such performance ... The CONTRACTOR must still complete the performance not terminated by the notice of termination and may incur obligations as necessary to do so. Page 47. AG ... The obligations of Guarantor (and each party named as a Guarantor in this Guaranty) and any Other Guarantor will be joint and several. Lender, in its sole ... Parties; Joint and Several Liability. The term "Seller ... Agreement, then each person will be jointly and severally liable for all of the obligations of.